My Deals

My partner and I have a goal to purchase 25+ properties this year in areas of Lancaster and neighboring cities in PA. Deals will be all cash and we can close in 2-3 weeks time or less. We are looking for the following criteria:

Purchase Price: $45K or lower
Rehab Work: mainly cosmetics - less than $10K
Properties can be single family or multi-units.

If you know of any please bring them to my attention immediately. I am willing to pay a finder's or referral fee.

Hello DG Family,

So I am taking the advice of my partner and posting this so that I can get my deal maker badge:)

Here is our first deal.

We purchased 2740 S Park Ave Kansas City, MO 64109 for $4,000

We then sold this property for $10,500

After closing costs, taxes, and realtor fees we made a profit of $2,587. We closed on November 22nd 2010.

Attached are some pictures:)

First is a before
second is an after

we just did some clean up, yard work, trimming, and so forth.

Alrighty 3rd deal is due to close on feb 7th. We have a little hick up with a power of attorney.

I wanted to know if anyone else here has had this situation before.

My seller is the one with the POA, the owner lives in Cuba. The title company is speaking with the attorney now to fix things by making a new one. Does anyone know how to avoid this for next time? I didn't realize it had to have specific things stated in the POA in order to sell a property. Any insight would help:)

Here are pictures of the property":)

Here is to it closing on time:) YAY!

as I posted to the wrong place

After looking on Realtor.com for several hours trying to find properties for two investors in the Dallas area I found a nice property that needs minimal work to it like painting and new carpet. the owner is a widow whose husband passed away and left her six rental properties.

The one I am interested in is a 4 br 2 ba with 1425 sq ft living space, built in 1972, 1 car garage, brick home in a good area of Dallas but would make a great section 8 property too.

I am looking to assign this too one of my investors cash buyer but have to have a contract on it before he will look at it.

This one happens to be our personal home! AWESOME! We have not been around much over the last week because we have been moving in but we are back! I figured that if I know how to get these deals, lock them up, make offers, etc then i should stop renting! The house was a bank owned home that sold for 210k a few years ago. It is worth about 180k ARV and the bank was asking 160k. There was not too much work but it had been up for a few months so we offered 130k and got it accepted!

Here's the deal. It was referred to me by a family member. Four siblings inherited a house with an ARV of $105k. Repairs were 25K to 30K I originally locked the property up for 30 days with a purchase price of $60K. I had buyers on my list already but as soon as I got the property locked up I started googling "we buy houses" and found many buyers in my area. Turned out the buyers on my originally list weren't the players I thought they were. I feel like building your buyers is good, but you will only know the truth about them once you actually have a property under contract. If you have a property the buyers will come.

Folks, I am so stoked right now, so excited, I am just beside myself right now!

Check this out....

I was cruising Craigslist this evening, saw an ad from a FSBO, it was a link to the "For Sale By Owner.com",
I checked the house that was listed for sale, a nice 3/2, built in 2003. Asking price was $132,000. FMV is appraised at $124,000.

His ad stated he was "flexible". I shot him an e-mail this evening, introducing myself as an investor, and that if he was truly flexible, and that if the terms were right, we could have a closing within the next 15 days!

Why did I say that?
Because just TODAY, I was contacted by another investor looking for wholesalers, and wanted me to have his contact info, and told me what kind of properties he's looking for.

Here are the numbers on the 12 unit apartment. I attached a word document with all the cash flow numbers on it.

We are getting ready to close on a 4 plex in our town Feb 1, so I thought I would share the details. Motivated seller saw one of our flyers and called because she was having medical problems and just wanted out. Property assessed at 54K, cash flowed $1500/month. We offered her 10K and she took it. Within a few days, we had cash offers of 15 and 17K to assign it. Could have done that for a quick 5-7K, but decided to be patient and make more $$. We have a private lender to lend at 7% full purchase price plus extra 4K for rehab. We decided to advertise seller finance/lease option for this property and had it sold within a few days. Buyer offered us 30K if we could finance for a yr.